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The NAO is now consulting on the draft text of the new Code of Audit Practice. The consultation is open to everyone and information about how to respond can be found in the consultation document. The consultation will close on 22 November 2019. Schedule 6 of the Act requires that the Code be reviewed, and […]

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August 21, 2019

The NAO is now consulting on the draft text of the new Code of Audit Practice. The consultation is open to everyone and information about how to respond can be found in the consultation document. The consultation will close on 22 November 2019.

Schedule 6 of the Act requires that the Code be reviewed, and revisions considered at least every five years. The current Code came into force on 1 April 2015, and the maximum five-year lifespan of the Code means it now needs to be reviewed and a new Code laid in Parliament in time for it to come in to force no later than 1 April 2020.

In order to determine what changes might be appropriate, we are consulting on potential changes to the Code in two stages.

Stage 2 of our consultation involves consulting on the draft text of the new Code. To support stage 2, we have published a consultation document, which highlights the key changes to each chapter of the draft Code.  The consultation document and a copy of the draft Code can be found below:

The consultation is open until 22 November 2019.

We plan to finalise the Code by the end of 2019, ready to be laid in Parliament early in 2020. The new Code will apply from audits of local bodies’ 2020-21 financial statements onwards.

If you have any questions about our consultation on the new Code, you can contact the Local Audit Code and Guidance Team at LACG@nao.org.uk, or by post at Local Audit Code and Guidance Team, National Audit Office, Green 2, 157-197 Buckingham Palace Road, London, SW1W 9SP

Stage 1 involved engagement with key stakeholders and public consultation on the issues that are considered to be relevant to the development of the Code.

This stage of the consultation is now closed. We received a total of 41 responses to the consultation which included positive feedback on the two-stage approach to developing the Code that we have adopted. We have considered carefully the views of respondents in respect of the points drawn out from the Issues paper and this will inform the development of the draft Code. A summary of the responses received to the questions set out in the Issues paper can be found below. We are very grateful to those who took the time to participate in the consultation.